How well are you governing
your nonprofit? — Compare your practices against IRS
proposal
Believing
that good governance promotes tax law compliance, the
IRS has issued a preliminary discussion draft of possible
practices to aid charitable organizations. These days,
the IRS is interested in the self-regulation proposals
advanced by others, so it is soliciting ideas from those
within and outside the exempt sector. Although the discussion
draft addresses only the governance of Section 501(c)(3)
organizations, the proposed procedures and policies
would be beneficial to any exempt organization wanting
to operate more efficiently and effectively — and gain
public support. This article explains the nine areas
of good governance addressed in the IRS draft.
Full Article
Getting off on the right
foot — The startup stage of a not-for-profit
Nonprofit
organizations go through many stages: initial startup,
growth, and various points and fluctuations that occur
throughout the life of a fully operational organization.
Although each stage poses challenges, startup is often
the most difficult to navigate. This article explores
some of the key components, which include the staff,
policies and procedures, and fund-raising and publicity.
Full Article
Maximize the benefits
of board meeting minutes
Like
many involved in operating a nonprofit, you probably
know that board meeting minutes are required by law.
What you may not realize is how else these records can
benefit your organization. This brief article details
what should be included in board meeting minutes.
Full Article
SFAS 158 and why it matters
to your pension plans
If
your organization offers a defined benefit pension plan
or other postretirement plans, such as medical and prescription
drug coverage, get ready: You must adhere to the provisions
of Statement of Financial Accounting Standards (SFAS)
No. 158, Employers’ Accounting for Defined Benefit Pension
and Other Postretirement Plans. This article reviews
the provisions, which address accounting for the funded
status of certain retirement plans.
Full Article
News for nonprofits
This
article looks at income tax uncertainties, baby boomer
volunteers and corporate donors.
Full Article
